Stifel Nicolaus Cuts Air Canada (TSE:AC) Price Target to C$24.00

Key Points

• Stifel Nicolaus has lowered its price target for Air Canada from C$25.00 to C$24.00, maintaining a "buy" rating which indicates a potential upside of 34.38% from its previous close.
• Multiple analysts have issued varied price targets for Air Canada, with ATB Capital increasing their target to C$32.00, while Scotiabank and Canaccord Genuity also reduced their targets, reflecting differing outlooks on the stock.
• As of the latest trading, Air Canada shares were down 0.7%, trading at C$17.86, with a current market cap of approximately C$5.29 billion.

Air Canada (TSE:AC - Get Free Report) had its target price lowered by equities research analysts at Stifel Nicolaus from C$25.00 to C$24.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 34.38% from the company's previous close.

Other research analysts also recently issued research reports about the company. ATB Capital increased their price objective on Air Canada from C$31.00 to C$32.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Scotiabank lowered their target price on Air Canada from C$27.00 to C$26.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 3rd. Canaccord Genuity Group reduced their price target on Air Canada from C$28.00 to C$25.00 and set a "buy" rating for the company in a report on Thursday. Citigroup set a C$25.00 price target on Air Canada and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Royal Bank Of Canada reduced their price objective on Air Canada from C$27.00 to C$25.00 and set an "outperform" rating for the company in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$24.91.

Air Canada Trading Down 0.7%

AC traded down C$0.12 during mid-day trading on Friday, hitting C$17.86. 2,965,104 shares of the stock were exchanged, compared to its average volume of 3,328,038. The firm's fifty day moving average is C$19.52 and its two-hundred day moving average is C$18.02. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The company has a market cap of C$5.29 billion, a PE ratio of 4.52, a PEG ratio of 0.02 and a beta of 1.73.

Air Canada Company Profile

Air Canada is Canada's largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.

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